Turkey’s premium-grade base oils imports held firm in October, accounting for more than half of the country’s total imports for a fourth month in five.Supplies from Russia accounted for a growing portion of those imports.The rise in shipments mirrored a similar trend for Group I base oils, but with different repercussions. .Turkey Oct Grp I base oil imports steady.The redirection of European Group I supplies to other outlets in Europe instead of to Turkey cushioned the impact of a drop in Russian base oils shipments to Europe.That option was less feasible for premium-grade base oils, leaving Europe with tighter availability of Group III 4cst supplies especially.Turkey’s premium-grade base oils imports of 22,490t in October fell from a seven-month high of almost 28,000t in September, government data showed. Imports more than doubled from year-earlier levels..The rise in shipments for the third time in four months lifted total imports to 238,000t in the first ten months of the year.The 29pc rise in imports from the same period last year outpaced the 11pc rise in Group I base oils imports during the same period.The trend reflected the ongoing rise in consumption of premium grades and shrinking demand for Group I base oils in response to more stringent lubricant specifications.Imports from Russia rose to a record-high of 4,190t in October and to 31,050t in the first ten months of the year. The 158pc rise in shipments from year-earlier levels outpaced this year's rise in Turkey’s total premium-grade base oils imports.Like with Group I base oils, a competitive price for the Russian supplies attracted more buyers.The price for the October supplies from Russia averaged around $1,320/t, versus more than $2,000/t for supplies originating from Spain.Russia’s sole Group III base oils plant previously regularly exported Group III 4cst supplies to Europe and to other markets.The cessation of those shipments to Europe freed up more of the supplies to move to markets like Turkey.The lack of any reciprocal rise in 4cst shipments from other sources to Europe left the region with tighter supplies of the key base oils feedstock to produce high-quality engine oils..Europe’s Sept imports from Russia fall
Turkey’s premium-grade base oils imports held firm in October, accounting for more than half of the country’s total imports for a fourth month in five.Supplies from Russia accounted for a growing portion of those imports.The rise in shipments mirrored a similar trend for Group I base oils, but with different repercussions. .Turkey Oct Grp I base oil imports steady.The redirection of European Group I supplies to other outlets in Europe instead of to Turkey cushioned the impact of a drop in Russian base oils shipments to Europe.That option was less feasible for premium-grade base oils, leaving Europe with tighter availability of Group III 4cst supplies especially.Turkey’s premium-grade base oils imports of 22,490t in October fell from a seven-month high of almost 28,000t in September, government data showed. Imports more than doubled from year-earlier levels..The rise in shipments for the third time in four months lifted total imports to 238,000t in the first ten months of the year.The 29pc rise in imports from the same period last year outpaced the 11pc rise in Group I base oils imports during the same period.The trend reflected the ongoing rise in consumption of premium grades and shrinking demand for Group I base oils in response to more stringent lubricant specifications.Imports from Russia rose to a record-high of 4,190t in October and to 31,050t in the first ten months of the year. The 158pc rise in shipments from year-earlier levels outpaced this year's rise in Turkey’s total premium-grade base oils imports.Like with Group I base oils, a competitive price for the Russian supplies attracted more buyers.The price for the October supplies from Russia averaged around $1,320/t, versus more than $2,000/t for supplies originating from Spain.Russia’s sole Group III base oils plant previously regularly exported Group III 4cst supplies to Europe and to other markets.The cessation of those shipments to Europe freed up more of the supplies to move to markets like Turkey.The lack of any reciprocal rise in 4cst shipments from other sources to Europe left the region with tighter supplies of the key base oils feedstock to produce high-quality engine oils..Europe’s Sept imports from Russia fall
